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Stock has made a bottom confirmation and is gearing up for more strength! Let's see what happens!!
Weekly Close >26.55
and High >27.45 needed with strength
Forming Higher Lows
Duration: 4-5 months
MTNL-near dynamic Resistance area
Stock can be added for long term above 27
Strength Candle on TGC
CCI>100 on all time frames
MTNL Analysis on Request.
MTNL looks good, with good risk to reward.
For short term buy with SL of close below 21
If trend continues then second target 35
If it breaks 26 with volumes then will test 30 and if it breaks comfortably then 45 - 53. Buy in good quamtities
wait for a break in the neckline first, be wary of a pullback to the neckline before shorting.
stoploss would be 21.5
tp1 = 18